CandleFocus Bitcoin (BTC) to Go Parabolic Once This Happens, Analyst Says
2024-11-21
Author: Content Editor
Charles Edwards, a prominent crypto analyst and founder of Capriole Investments, has shared a bullish macro forecast for Bitcoin (BTC) based on a pattern observed in its previous cycles. Edwards predicts that Bitcoin is about to enter its "parabolic phase" of price growth, which occurs approximately once every four years. This phase is expected to start when Bitcoin reaches $100,000 per coin. In previous parabolic phases, Bitcoin saw price spikes of 481% in 2018 and almost 600% in 2022. Edwards previously authored the Bitcoin Energy Value price model, which accurately predicted Bitcoin reaching $100,000 by 2025. Currently, Bitcoin is trading around $97,700 and has experienced significant liquidations in the last 24 hours.
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